37709
Morristown, Tennessee
Morristown 37709 is stable.
The 37709 ZIP code in Morristown, Tennessee has a median sale price of $367K, down -2.9% year-over-year. Homes spend an average of 65 days on market, with 29% of homes selling above list price.
Folio's PropIQ™ score of 65 signals Caution conditions. This market is holding steady. Monitor inventory shifts before committing.
The Morristown 37709 market shows cooling momentum with the median sale price at $366,900, down 2.9% year-over-year. Homes are averaging 65 days on market, indicating measured absorption rather than competitive urgency. Only 29% of properties close above list price, confirming seller pricing power has diminished from previous periods. This represents a clear shift from appreciation-driven conditions to a price-discovery phase where buyers hold negotiating leverage.
This environment favors patient primary-residence buyers with financing secured and flexible timelines to capitalize on the 71% of homes selling at or below ask. Investors seeking cash-flow properties may find realistic entry points given the downward price trajectory, though appreciation plays carry heightened risk. Sellers with equity cushions and non-contingent circumstances can still transact at the 65-day velocity, but those requiring premium pricing face extended exposure.
The PropIQ score of 65 signals caution, suggesting continued price pressure absent demand catalysts or inventory contraction. The negative year-over-year trend combined with moderate days-on-market indicates the market hasn't stabilized into a clear bottom formation. Monitor month-over-month sales velocity and new listing volumes through Q2 2026; sustained inventory growth above current levels would likely push the median below $360,000 by summer.
What is the median home price in 37709 Morristown?
The median sale price in 37709 is $367K, down -2.9% year-over-year as of 2026-02-28.
How long do homes stay on the market in Morristown 37709?
Homes in 37709 Morristown spend an average of 65 days on market before going under contract.
Is Morristown 37709 a good place to invest in real estate?
Folio's PropIQ™ score for 37709 is 65/100 — a Caution signal. 29% of homes sold above asking.
What does a PropIQ™ score of 65 mean for 37709?
PropIQ™ is Folio's proprietary market score combining price momentum, days-on-market velocity, inventory absorption, and investment signals into a 0–100 number. Score of 65 = Caution in 37709 Morristown, Tennessee.